JC Penney cuts store openings

'Expected' retailer out of Elk Grove Promenade?

Retailer JC Penney announced today that it will scale back its store openings through 2009. The Texas based retailer said that it will open 20 stores next year, down from the 36 scheduled for this year.

Previously, JC Penney had planned on opening 50 stores per year through 2011. Since at least 2007, JC Penney had been expected to be one of the key anchors at the Elk Grove Promenade.

The Promenade web site currently list only Macy's and "two additional tenants" as anchors. Target has also been an expected anchor.